Guangzhou long steel inventories dip further on week

SHANGHAI, Oct 25 (SMM) – Social inventories of long steel, including wire rods and rebar, in Guangzhou of Guangdong province decreased 11.29%, or 79,100 mt, from Thursday October 18 to 621,300 mt as of Thursday October 25, SMM data showed. 

For the same period, stocks of wire rods fell 37,100 mt, or 12.6%, to 257,500 mt; and stocks of rebar shrank 42,000 mt, or 10.3%, to 363,800 mt.